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Is a golden age of passenger rail dawning in the U.S.?
It’s possible, as an increased focus on rail travel has ushered in several major new projects. Part of the push comes from the bipartisan infrastructure law giving $66 billion to rail, with half of it already allocated, but there are some high-profile private projects, too.
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In 2018, Brightline, a Florida-based company, opened the only privately owned and operated intercity U.S. railroad, with service from Miami to West Palm Beach. It recently expanded with a new $6 billion line to Orlando. And soon the company will break ground on the first dedicated high-speed passenger rail line in the U.S. — Brightline West — connecting Los Angeles to Las Vegas.
The feds are considering a high-speed line for the Portland-Seattle-Vancouver corridor. It could be a public-private project. Amtrak is proposing a Dallas-to-Houston route with trains going 205 miles per hour.
Still, challenges can be daunting for new rail lines. California has struggled with cost overruns and delays for its state-funded Los Angeles-to-San Francisco line.
This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.
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